Westpac NZ lowers mortgage and term deposit rates in response to RBNZ interest rate cuts.
Westpac New Zealand has dropped mortgage and term deposit rates in anticipation of the Reserve Bank of New Zealand's (RBNZ) interest rate cuts. The bank reduced its 12-month rate by 25 basis points to 6.89% and cut term deposit rates by 5-10 basis points across six- to 18-month options. Westpac's changes make its home loan rates the lowest among the five major banks for 6-month, 12-month, and 18-month terms.
July 11, 2024
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